I have exactly the same bike you do. You can replace the forks w/the '93-'07 forks (probably the most cost-effective choice). You will need the newer triple trees too. The front wheel will work for either, as will the VMax headlight holder/cover for the brake splitter. You will need the 100 mm center-to-center mounting hole front brake calipers & 298 mm rotors too from the '93+. The stock 1985-1992 calipers will not fit the '93+ unless you use adapters, which cost more than a good used pair of newer calipers from an FZR1000, YZF1000, or R1. The Hyabusa or last year FZR1000/YZF six-piston calipers are popular too.
If you search the site using the 'search' function, you can find all sorts of info on this.
Many people look to replace the front end w/an upside-down-fork from a sportbike such-as a YZF1000/R1 Yamaha. Typically big $$. Since the front end is shorter, you need dropped or 'gullwing' triple trees to fit the sportbike USD forks, those will cost you about $700 or more from someone like Cycle One-Off, Boxxenstopp, or Wild Brothers. Then there's the cost of the front wheel for the sportbike front end, or a custom axle/spacers to re-use your VMax wheel.
My suggestion is to just go w/new steering head bearings & a 1993+ front end w/Yamaha two-pair opposed piston calipers & the 1993+ 298 mm stock Yamaha VMax rotors. People will tell you to upgrade your brake master cyl, but it's not necessary, you can re-use yours if it's in good shape. You also don't need "wave rotors" unless you can't find reasonably priced used 298 mm rotors, then you might decide to spend the $.
You can do a cheap upgrade, comparatively-speaking, or you could spend $2500+ going w/late-model sportbike stuff & etc. My advice for right now is to go for the stock 1993+ parts upgrade and get back on the road. You can always study the upgrades and do it later.
My experience was to upgrade to the '93+ front end, FZR1000 calipers, new steering head bearings, and a new, used 17" rear wheel and fitting radials, using the stock front wheel. The wheel width isn't optimal in front, but it will work, and the handling difference is very noticeable. I haven't even mentioned Progressive Suspension or Race Tech front springs & lowering kits, different valving, etc. If you rebuild the forks, use Yamaha fork seals, they seem to give the fewest problems.
There will be many other advisors here too, see what they say, and make an informed choice.
And I didn't even mention anything about either rebuilding your calipers you get, which is easy, or about choosing replacement pads (HH friction compound is a favorite for many).